Economic Perspectives

New (from the archives) paper on determinants of personal bankruptcy

02/13/19

This working paper is a longitudinal empirical study of lower-income homeowners, including a subset of bankruptcy filers, produced with an interdisciplinary team of cross-campus colleagues, including Professor Roberto Quercia, director of UNC's

[more]

File This Under Calling BS on Bankruptcy Fearmongering

06/21/18

As anyone familiar with bankruptcy would have predicted, the dire predictions of disaster for municipalities seeking bankruptcy protection have proven to be ... let's just say exaggerated.

[more]

Trump’s “Draining the Swamp” Scorecard: One Year In

02/11/18

Donald Trump came into office promising, among other things, to “drain the swamp” and get rid of all that corruption.  One year in, how are things looking in terms of swamp draining? 

The following is based on work with my super co author, Stephen Choi, of NYU Law School.

[more]

(More on) Sticky Shipping Contracts

11/02/17

A few days ago, I put up a post about a very interesting recent article by Richard Kilpatrick on highly sticky (and inefficiently so) shipping contracts.

[more]

Why is Netflix Listing its European Bonds on the Isle of Guernsey?

10/28/17

Netflix has long interested me as a company, not only because of shows like "Master of None" (Aziz Ansari and Alan Yang have delivered brilliantly), its darwinian management philosophy (very cool podcast on Planet Money), but because of its uncertain future.

[more]

Everything You Wanted to Know About Bond Workouts But Were Afraid to Ask

03/05/17

There's a great new paper available on out-of-court restructuring and the Trust Indenture Act.   The New Bond Workouts is up on SSRN.  From the abstract it sounds pretty darn amazing—a new, empirically based analysis of bond restructurings that rediscovers a long-forgotten intercreditor duty of good faith: 

[more]